Rocket Lab Corporation (NASDAQ:RKLB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Rocket Lab Corporation (NASDAQ:RKLB) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $83.3077.

RKLB has been the topic of several research analyst reports. Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $67.00 to $105.00 in a research report on Friday, January 16th. KeyCorp lowered Rocket Lab from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 15th. Roth Mkm boosted their target price on Rocket Lab from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Bank of America boosted their target price on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Rocket Lab in a research note on Friday, March 13th.

Rocket Lab Stock Down 4.5%

RKLB stock opened at $78.81 on Friday. The stock’s fifty day simple moving average is $72.26 and its two-hundred day simple moving average is $68.22. The company has a current ratio of 4.08, a quick ratio of 3.61 and a debt-to-equity ratio of 0.10. Rocket Lab has a 1-year low of $20.23 and a 1-year high of $99.58. The stock has a market cap of $44.88 billion, a P/E ratio of -212.99 and a beta of 2.30.

Trending Headlines about Rocket Lab

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: High-profile endorsement: Jim Cramer said on Mad Money that “I think that Rocket Lab is a winner,” a bullish retail-media signal that can drive short-term buying interest and confidence among long-term holders. Jim Cramer Says “I Think That Rocket Lab Is a Winner”
• Positive Sentiment: Echoed coverage: Independent financial sites republished Cramer’s comments, reinforcing the same bullish narrative and broadening reach to investors who follow newsletters and aggregation sites. Jim Cramer Says “I Think That Rocket Lab Is a Winner” (InsiderMonkey)
• Neutral Sentiment: Sector product development (possible competitive context): Planet Labs and Carbon Mapper announced a specialized Tanager spacecraft for shortwave infrared (SWIR) imaging — a development in the small-sat remote-sensing market that could affect demand dynamics for satellite platforms and data services but does not directly announce business with or against Rocket Lab. Monitor whether this spurs new customer spending or demand for launch and spacecraft buses. Planet Labs & Carbon Mapper To Develop Specialized Tanager Spacecraft

Insider Transactions at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the sale, the chief financial officer directly owned 1,296,824 shares in the company, valued at $90,245,982.16. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Arjun Kampani sold 23,711 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $1,706,006.45. Following the completion of the sale, the senior vice president owned 397,988 shares in the company, valued at approximately $28,635,236.60. The trade was a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 233,449 shares of company stock valued at $16,487,233. 8.40% of the stock is currently owned by insiders.

Institutional Trading of Rocket Lab

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Rocket Lab by 13.6% during the 3rd quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock valued at $6,123,000 after purchasing an additional 15,307 shares during the period. Firsthand Capital Management Inc. raised its stake in shares of Rocket Lab by 40.0% during the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock valued at $3,354,000 after purchasing an additional 20,000 shares during the period. Swiss National Bank raised its stake in shares of Rocket Lab by 67.7% during the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock valued at $59,582,000 after purchasing an additional 501,830 shares during the period. Vanguard Group Inc. raised its stake in shares of Rocket Lab by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock valued at $3,308,033,000 after purchasing an additional 5,610,469 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Rocket Lab by 14.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer’s stock valued at $7,335,000 after purchasing an additional 19,304 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.